Future Generations

By making smart investments in real estate and smart choices in the way it operates, the Foundation has a proven track record of financial success that is sure to pay dividends for years to come. This starts with guidance from administration, continues with a portfolio of investments with unprecedented returns and finishes with a property procurement program that ensures community prosperity on multiple levels.

Administrative costs are kept exceptionally low

The Foundation puts as much as possible back into the University and its students. By keeping administrative overhead costs under 10% of the overall annual budget, more than 90% is available for redirection into University research projects, enrichment programs, scholarships and community investments.

Portfolio performance is strong

The Foundation’s investment success in its endowment has earned a top 100 national ranking among all the colleges and universities in the United States. (Source: 2007 NACUBO Endowment Study) During the last fiscal year, our investment portfolios returned at a rate of 20.8%, which is well above the national norm, especially in the face of a recession and market challenges across the board.

With continued strong performance, the Foundation is setting the investment fund on a course for long-term success.

Property development supports future growth

Shelby Campus project expands horizons

The UofL Development Company, LLC was established to develop and manage Foundation real estate property for the benefit of the University. Currently overseeing the development of 108 acres on the Shelby Campus of UofL, this company enjoyed a major milestone in October of 2011, when Churchill Downs Incorporated (CDI) announced that it would be moving its corporate offices into the brand-new 600 North Hurstbourne building on Shelby Campus. Scheduled to open in early 2012, this environmental marvel is a joint venture between the Foundation and NTS Development Co. CDI will lease the entire fourth floor of 600 North Hurstbourne, which will provide 33,172 square feet of office space for its 120 Louisville-based corporate employees and allow room for an additional 30 future staff members.

Nucleus initiative makes room for upstarts

While the Nucleus Innovation Park – Jefferson Street, formerly known as Med Center 3, is now leased to full capacity, the new Nucleus building, currently under construction at Floyd and Market Streets, is following the same path, more than a year away from opening its doors.

The $18 million, eight-story building initially will house a center devoted to developing new products and services for the aging care sector. Seven other tenants have signed letters of intent and several others have expressed interest in moving into the state-of-the-art building. The International Center for Long Term Care Innovation, a project initially funded by Signature HealthCARE and Nucleus, will occupy about 20,000 square feet of the 180,000-square-foot building. University of Louisville researchers and others will use the space to develop and commercialize new products and services in a variety of fields.

Foundation subsidiary creates jobs and returns millions

Along these same lines, MetaCyte Business Labs, a for-profit subsidiary of the Foundation, is working with the UofL Office of Technology Transfer and Nucleus to create a seamless commercialization process that will yield viable, operating companies with a combined value in excess of $1 billion by 2020. Since 2002, MetaCyte staff has secured more than $16 million in funding for its portfolio companies, creating more than 40 high-paying jobs and returning more than $11 million to UofL for additional research.

Belknap Campus undergoes a transformation

In 2011, construction was completed on a new pedestrian gateway and entrance at the corner of Third Street and Eastern Parkway, along with a new plaza and sculpture court near Miller Information Technology Center. A new entrance to the north end of campus, between the School of Music and the College of Education and Human Development, is in the works with a projected completion slated for 2012. The Freedom Park project at Second Street and Cardinal Boulevard is currently under construction, with completion set for early 2012.

A significant renovation of The Oval in front of Grawemeyer Hall, including replacing the roadway surface with brick pavers, lighting the hall’s exterior, installing an irrigation system and replacing sod, was also completed. The hall’s steps are also set to be rebuilt. The project is designed to reflect the vision of famed parks designer Frederick Law Olmsted. Olmsted’s firm designed the Louisville parks and parkway system and saw The Oval as a complement to Stansbury Park, located across Third Street.

While these projects will greatly enhance the overall Belknap appearance and student experience, they will also improve student safety and provide more convenient access onto and around campus.